New York State Common Retirement Fund Sells 6,225 Shares of Globant S.A. (NYSE:GLOB)

New York State Common Retirement Fund lessened its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,710 shares of the information technology services provider's stock after selling 6,225 shares during the period. New York State Common Retirement Fund owned about 0.18% of Globant worth $15,001,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. BOKF NA boosted its position in Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 158 shares during the period. Quarry LP grew its holdings in Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider's stock worth $30,000 after buying an additional 143 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in Globant in the 2nd quarter valued at approximately $31,000. ORG Partners LLC raised its stake in Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock valued at $38,000 after acquiring an additional 76 shares in the last quarter. Finally, American National Bank & Trust boosted its position in Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock worth $45,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GLOB. Scotiabank raised their target price on shares of Globant from $200.00 to $210.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 21st. KeyCorp boosted their target price on Globant from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, August 16th. Canaccord Genuity Group increased their price target on Globant from $175.00 to $205.00 and gave the company a "hold" rating in a research note on Wednesday, August 21st. StockNews.com downgraded Globant from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Globant in a report on Thursday, August 22nd. They issued a "hold" rating and a $210.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $226.21.

Globant Stock Performance

Shares of NYSE GLOB traded up $6.00 during trading hours on Wednesday, hitting $218.91. The stock had a trading volume of 560,979 shares, compared to its average volume of 476,708. The company has a market capitalization of $9.43 billion, a P/E ratio of 55.57, a P/E/G ratio of 2.58 and a beta of 1.39. The firm's 50-day moving average price is $204.36 and its two-hundred day moving average price is $188.53. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.01. The business had revenue of $587.46 million for the quarter, compared to the consensus estimate of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. Globant's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 EPS. As a group, analysts expect that Globant S.A. will post 5.06 EPS for the current fiscal year.

About Globant

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.